Location: Day County, SD | Metro: Clark County, SD
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 57274 stands out with its unique demographic and economic profile. With a population of 2,621 residents, it has a relatively low rental rate of 25.5%, indicating that the majority of its inhabitants prefer homeownership. The median income in this area is $68,083, which places it above the national average, suggesting a middle-class community. The median home value is notably high at $222,779, reflecting the strong local housing market.
When it comes to Section 8 vouchers, the Federal Market Rent (FMR) for the fiscal year 2026 is set at $930 for the metro area. This contrasts sharply with the actual market rent of $655, based on Census ACS data. Landlords and small-portfolio investors can leverage this difference by accepting vouchers, as they would receive a higher rent payment compared to the typical market rates. This scenario presents an opportunity for those who might otherwise struggle to find tenants willing to pay the FMR.
The data signature for ZIP 57274 reads as stable, with a solid median income and high median home values indicating a secure financial environment. However, the disparity between the FMR and market rents suggests a transitional aspect, particularly in terms of rental economics. As the voucher program aims to bridge this gap, landlords should consider the potential benefits of participating in such programs to ensure steady occupancy and revenue streams.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.